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Economic Development - City of Escondido

Welcome to the City of Escondido Economic Development five-year roadmap. On June 7, 2023 the Escondido City Council approved the 2023 to 2028 Comprehensive Economic Development Strategy (CEDS). This document outlines data and community feedback about the City's economy and outlines a five-year plan to improve the local economy. In Southern California, the cost of living and doing business is high compared to other areas of the state and country, however, Escondido remains relatively affordable. This means that many people choose to call Escondido home. While opportunities to have a home or start a business in Escondido are widespread, the local economy is seeing some concerning signs that are important for the City and the larger community to be aware of to ensure the future economic success of the City. Did you know that the City of Escondido population is in decline for ages 0 to 5 and 20 to 29? That means that young families are choosing not to stay in Escondido or they are not moving into Escondido. This poses a problem for our future labor market and retail sales. Did you know that 1 in 5 adults over the age of 25 living in Escondido do not have a high school diploma or equivalent? This limits the opportunities that our residents have to find work that will provide a livable wage and prevents our companies from finding qualified talent. The City is also facing a commuter mismatch, meaning, there are people who currently live in Escondido who commute elsewhere for work. There is an opportunity to improve quality of life and increase job opportunities locally by attracting the right jobs to Escondido. In Southern California land prices are high, but Escondido remains relatively affordable, which provides opportunity. At the same time, with few new construction opportunities, the City must maximize land value for housing and jobs. The first section of the CEDS takes a deep look at the City's economic data and the second part outlines an action plan to address the issues identified by the data. The action plan first identifies four fundamentals and then three thematic areas of focus.